Cambridge O Level/ IGSCE Accounts Notes Archives - Page 10 of 19

Cambrige Notes: Principles of Accounting: The reducing balance/diminishing balance method
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Cambrige Notes: Principles of Accounting: The reducing balance/diminishing balance method

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: The reducing balance/diminishing balance method

By Garikai Dzoma|2025-02-12T09:31:53+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The reducing balance/diminishing balance method

As discussed in this topic there are number of ways in which depreciation can be calculated
The reducing balance method is one of these methods
It is also known as the diminishing balance method
A fixed percentage is deducted from the first from cost then […]

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Cambrige Notes: Principles of Accounting: Partnerships: Capital and Current Accounts
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Cambrige Notes: Principles of Accounting: Partnerships: Capital and Current Accounts

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Partnerships: Capital and Current Accounts

By Garikai Dzoma|2025-02-12T09:35:14+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Partnerships: Capital and Current Accounts

Like a normal business partnerships are formed when their owners (partners) inject capital into the business
While the principles of recording capital are the same as those of a Sole Trader business
There are certain differences that need to be borne in mind
One […]

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Cambrige Notes: Principles of Accounting: Introduction to Bank Reconciliation Statements
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Cambrige Notes: Principles of Accounting: Introduction to Bank Reconciliation Statements

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Introduction to Bank Reconciliation Statements

By Garikai Dzoma|2025-02-12T09:38:40+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to Bank Reconciliation Statements

When we looked at the Cash Book we mentioned that all bank related transactions are recorded in it
We glaringly ignored one fact the bank is also a business
They have their own set of records about our deposits and withdrawals
In modern times due […]

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Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept
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Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept

By Garikai Dzoma|2025-02-12T09:41:52+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Accruals concept and the Materiality concept

As we has already been pointed out in another topic here
The accounting function is governed by several concepts which form part of what are known as International Financial Reporting Standards
In this topic we will look at:
1. The Accruals/Matching Concept and

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Cambrige Notes: Principles of Accounts:Bank Overdraft example

By Garikai Dzoma|2025-02-12T09:45:23+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Overdraft receipt. Note an overdraft is an asset to the bank. Image credit consumerist.com

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Cash Book: Bank Overdraft example

Consider the following entries and enter into the books of J […]

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Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example
Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example

By Garikai Dzoma|2025-02-12T08:58:24+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Posting to the Sales Ledger from the Sales Day Book

You are a bookkeeper for G Moyo. He are asks you to enter into the Sales Day Book the following transactions and post the items to them to their relevant accounts in the Sales Ledger and then show the transfer to the sales […]

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Cambrige Notes: Users of Accounting Information
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Cambrige Notes: Users of Accounting Information

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Users of Accounting Information

By Garikai Dzoma|2025-02-12T09:02:08+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC Principles of Accounts Notes: Users of Accounting Information.

Users of accounting information can be divided into two groups:
Internal users and,
External users.
Users of accounting information are sometimes known as stakeholders since they are affected and in turn affect the concerned entity’s operations.

Internal Users

These are found inside the business entity itself and they include:
Owners– Determine […]

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Cambrige Notes: Sole Trader: Statement of Financial Position
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Cambrige Notes: Sole Trader: Statement of Financial Position

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Sole Trader: Statement of Financial Position

By Garikai Dzoma|2025-02-12T09:05:30+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to the Statement of Financial Position

It is also used to be known as the Balance Sheet
It is a statement of the assets, liabilities, and capital of a business at a particular point in time
It is a financial snap shot of the business at a given point in […]

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Cambrige Notes: Determining whether an account has a debit or credit balance
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Cambrige Notes: Determining whether an account has a debit or credit balance

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Determining whether an account has a debit or credit balance

By Garikai Dzoma|2025-02-12T09:08:39+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes:Determining whether an account has a debit or credit balance

Sometimes in a bid to confuse you during the examination examiners will present you with a jumbled list of balances which might require you to determine whether the accounts should be on the debit side or credit side of the trial balance.

[…]

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Cambrige Notes: Principles of Accounting: Format of Income Statement for Companies
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Cambrige Notes: Principles of Accounting: Format of Income Statement for Companies

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Format of Income Statement for Companies

By Garikai Dzoma|2025-02-12T09:22:17+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Limited Liability Companies: Income Statement

As already pointed out in our introduction
The structure of the Income Statement ( Profit and Loss part) prepared for limited liability companies such as Private Limited (PVT LTD) and Public Limited Liability companies
is especially different from those prepared for sole traders […]

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February 2025